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Legal Pot In Mexico: Everything You Need to Know
On June 19th, 2017, Mexico legalized medical marijuana, or more specifically, "pharmacological derivatives of cannabis" to be regulated and studied by the Ministry of Health. But, for now, Mexico's medical cannabis market will look much different than say, California's, which sells everything from cannabis flower to THC-infused massage oil. Currently, "cannabis derivatives" in Mexico, like oils and pills, must contain less than one percent THC. Although some activists are hopeful and working to change this conservative allotment, many believe that full cannabis legalization is what will help Mexico the most.
"This current law is so limited as to be practically useless. But we're headed in the right direction and the attitude is changing," says Laura Carlsen, political analyst and director of the Americas Program at the Center for International Policy in Mexico City. Here, what you need to know about Mexico's marijuana program, and where it might go from here.
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In states where marijuana is legal, growers are trying to adapt to plunging retail prices
Pot growers in states where marijuana has been legalized for adult consumption are grappling with the problems of supply and demand that have challenged other commodities. Wholesale U.S. marijuana prices dropped to $1,614 a pound in July, from a high of $2,133 a pound in September 2015, according to New Leaf Data Services, and while that has been great for pot consumers, growers are less enthusiastic, The Wall Street Journal reports. Axios broke that down into more consumer-scale prices, citing BDS Analytics.
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